PSI licensure:certification
3210 E Tropicana
Las Vegas, NV 89121
www.psiexams.com
STATE OF COLORADO
DEPARTMENT OF REGULATORY AGENCIES
DIVISION OF REAL ESTATE
REAL ESTATE
CANDIDATE INFORMATION BULLETIN
Examinations by PSI .......................................... 2
Instructions for License Qualification ..................... 2
Description of Examination and
Examination Content Outlines .............................. 3
Registration and Scheduling Procedures .................. 6
Internet Registration ................................... 6
Telephone Registration ................................ 6
Fax Registration ......................................... 7
Mail Registration ........................................ 7
Canceling or Rescheduling an Appointment ........ 7
Missed Appointment or Late Cancellation .......... 7
Examination Accommodation ......................... 7
Emergency Examination Center Closing ............. 7
Social Security Confidentiality ........................ 7
Computer Examination Center Locations ............... 7
Reporting to the Examination Center ................... 8
Required Identification .............................. 8
Security Procedures .................................. 8
Taking the Examination ................................... 9
Identification Screen ................................. 9
Tutorial ................................................. 9
Experimental Questions .............................. 9
Examination Review .................................. 9
Score Reporting ............................................. 10
Duplicate Score Reports ............................. 10
License Application Instructions ......................... 10
Examination Registration Form........................... 12
Examination Accommodation Request Form ... End of Bulletin
Please refer to www.psiexams.com for the latest updates to this bulletin.
Copyright © 2017 PSI licensure:certification
Last Revised 5/24/2017
DEADLINE FOR FILING AN APPLICATION
EXAMINATIONS BY PSI
This Candidate Information Bulletin provides you with
information about the examination and application process for
becoming licensed as a real estate broker in Colorado. You
should also access http://dora.colorado.gov/dre/ for
additional information on licensing requirements.
You need to pass an examination to confirm that you have
attained at least a minimum level of knowledge regarding the
principles, practices, statutes and regulations relating to real
estate.
The Division has contracted with PSI
licensure:certification (PSI) to conduct its examination
program. PSI provides examinations through a network of
computer examination centers in Colorado. PSI works closely
with the Division of Real Estate to be certain that examinations
meet local as well as national requirements in basic principles
of real estate and examination development standards.
The real estate broker examination offered by PSI Examination
Services consists of a state and national portion. You must
pass both portions to apply for a license.
All questions and requests for information
examination should be directed to:
about
the
PSI licensure:certification
3210 E Tropicana
Las Vegas, NV 89121
(800) 733-9267 • Fax (702) 932-2666
www.psiexams.com
Questions about applications for licensure should be directed
to:
Colorado Division of Real Estate
1560 Broadway, Suite 925
Denver, CO 80202
(303) 894-2166 • Fax (303) 894-2683
http://dora.colorado.gov/dre/
INSTRUCTIONS FOR LICENSE
QUALIFICATION
AGE
You must be 18 years old to apply for a Colorado real estate
broker license. There is no age restriction on taking the
broker examination.
The real estate license examination is made up of two parts,
the general part, and the local (state) part. Applicants for
licensure who must receive passing scores on both the
general part and the state part of the examination need not
receive them on the same administration date. If one part is
failed, the applicant may retake it at a subsequent time. In
no event will a passing score on either part of the exam be
accepted beyond one year.
CHARACTER
The Real Estate Commission is authorized to require proof of
truthfulness, honesty, good moral character of any applicant.
BEFORE submitting an application for a real estate broker
license, each applicant shall submit a set of fingerprints to the
Colorado Bureau of Investigation for the purpose of conducting
a state and national fingerprint-based criminal history record.
The applicant shall pay the fee established by the Colorado
Bureau of Investigation. Upon completion of the criminal
history record check, the bureau shall forward the results to
the Real Estate Commission. Access the Division of Real Estate
(DRE) Internet homepage for information on the procedure and
process at:
http://dora.colorado.gov/dre/
PSI provides the more accurate electronic fingerprint service
at its examination centers and forwards the fingerprint to the
appropriate review agencies. Contact PSI for information on
digital fingerprint at various exam sites.
CRIMINAL BACKGROUND
If you have been convicted, pled nolo contendere to, or
agreed to a deferred prosecution or judgment for any felony,
misdemeanor, theft-related petty offense, or have such
charges pending, you may apply for a preliminary advisory
opinion (PAO) as to the effect of the offense on licensure.
You may submit a no-cost PAO request before completing any
education or examination requirements. If you choose to
complete the licensing requirements and apply for a broker
license, you must complete an addendum to the broker
application and submit it with the nonrefundable application
fee.
Both the PAO and broker application addendum are given
individual consideration by the Commissioners, and may take
up to two months from the date a fully documented
application or PAO is received. Both forms are available from
the Commission Website.
EDUCATION EXPERIENCE AND EXAMINATION
The specific course, experience and exam requirements vary
for the different levels of licensure.
For information on the requirements for licensure
click on (or access) the following link to the DRE website:
http://dora.colorado.gov/dre/
Now you can take the practice exam online at www.psiexams.com
to prepare for your Colorado Real Estate Examination.
Please note that practice exams are intended only to help testing
candidates become familiar with the general types of questions that
will appear on a licensing examination. They ARE NOT a substitute
for proper education and study. Furthermore, scoring well on the
practice exam does not guarantee a positive outcome on an actual
licensing examination.
Note: You may take the practice exams an unlimited number of
times. However, you will need to pay each time.
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DESCRIPTION OF EXAMINATION AND
EXAMINATION CONTENT OUTLINES
Use the outline as the basis of your study. The outlines list the
topics that are on the examination and the number of items for
each topic. Do not schedule your examination until you are
familiar with all topics in the outline.
This table shows the number of questions and the time allowed
for each examination. For the Real Estate Broker Examination
you must pass both portions to apply for a license.
# of
Questions
Passing
Score
Time
Allowed
National
80
60 correct
120
Minutes
State
74
53 correct
110
Minutes
Continuing
Education
State
74
53 correct
110
Minutes
Reciprocal
Licensure
State
74
53 correct
110
Minutes
Examination
Broker
Portion
Continuing Education candidates will only be required to take
the state portion to satisfy their CE requirement. You must
select the Continuing Education examination to get credit.
Do NOT register for the Broker State examination.
Reciprocal Licensure candidates will only be required to take
the state portion to qualify for reciprocal licensing. You must
select the Reciprocal License examination to get credit. Do
NOT register for the Broker State examination.
NATIONAL PORTION OF THE EXAMINATION
The following is a list of possible study materials for the
national portion of the real estate examination. The list is
given to identify resources and does not constitute an
endorsement by PSI or by the State Real Estate Commission.
Use the latest edition available.





Real Estate Fundamentals, 9th Edition, Gaddy and Hart,
Dearborn Real Estate Education, (800) 972-2220,
www.dearborn.com
Modern Real Estate Practice, 18th Edition, Galaty,
Allaway, and Kyle, Dearborn Real Estate Education, (800)
972-2220, www.dearborn.com
Real Estate Law, 8th Edition, 2013, Elliot Clayman,
Dearborn Real Estate Education, (800) 972-2220,
www.dearborn.com
The Language of Real Estate, 7th Edition, 2013, John
Reilly, Dearborn Real Estate Education, (800) 972-2220,
www.dearborn.com
Real Estate Principles & Practices, 8th Edition, Arlyne
Geschwender,
OnCourse
Publishing,
N19W24075
Riverwood Drive, Suite 200, Waukesha, WI 53188, 855733-7239, www.oncoursepublishing.com

Real Estate Principles, 12th Edition, Charles Jacobus,
OnCourse Publishing, N19W24075 Riverwood Drive, Suite
200, Waukesha, WI 53188, 855-733-7239,
www.oncoursepublishing.com
STATE PORTION OF THE EXAMINATION
Colorado Real Estate Manual, (most current version),
compiled by the Colorado Division of Real Estate, (303) 8942166. Google “Colorado Real Estate Manual” and it will
provide you with the link to download the manual.
NATIONAL PORTION CONTENT OUTLINE
(REAL ESTATE PRINCIPLES AND PRACTICES)
Property ownership (6 items)
1. Classes of property
a. Real versus personal property
b. Defining fixtures
2. Land characteristics and legal descriptions
a. Physical characteristics of land
b. Economic characteristics of land
c. Types of legal property descriptions
d. Usage of legal property descriptions
e. Physical
descriptions
of
property
and
improvements
f. Mineral, air and water rights
3. Encumbrances and effects on property ownership
a. Liens (types and priority)
b. Easements and licenses
c. Encroachments
4. Types of ownership
a. Types of estates
b. Forms of ownership
c. Leaseholds
d. Common interest ownership properties
e. Bundle of rights
Land use controls and regulations (5 items)
1. Government rights in land
a. Property taxes and special assessments
b. Eminent domain, condemnation, escheat
c. Police power
2. Public controls based in police power
a. Zoning and master plans
b. Building codes
c. Environmental impact reports
d. Regulation of special land types (floodplain,
coastal, etc.)
3. Regulation of environmental hazards
a. Abatement,
mitigation
and
cleanup
requirements
b. Restrictions on sale or development of
contaminated property
c. Types of hazards and potential for agent or
seller liability
4. Private controls
a. Deed conditions or restrictions for specific
properties
b. Homeowners association (HOA) regulations
Valuation and market analysis (6 items)
1. Value
a. Market value and market price
b. Value
i. Types and characteristics of value
ii. Principles of value
iii. Market cycles and other factors affecting
property value
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2.
3.
4.
Methods of estimating value/appraisal process
a. Market or sales comparison approach
b. Replacement cost or summation approach
c. Income approach
d. Basic appraisal terminology (e.g., replacement
versus
reproduction
cost,
reconciliation,
depreciation, kinds of obsolescence)
Competitive/Comparative Market Analysis (CMA)
a. Selecting and adjusting comparables
b. Contrast CMA and appraisal
i. Price per square foot
ii. Gross rent and gross income multipliers
iii. Capitalization rate
Appraisal practice; situations requiring appraisal by
a certified appraiser
Financing (7 items)
1. General concepts
a. LTV ratios, points, origination fees, discounts,
broker commissions
b. Mortgage insurance (PMI)
c. Lender requirements, equity, qualifying buyers,
loan application procedures
2. Types of loans and sources of loan money
a. Term or straight loans
b. Amortized and partially amortized (balloon)
loans
c. Adjustable rate mortgage (ARM) loans
d. Conventional versus insured
e. Reverse mortgages; equity loans; subprime and
other nonconforming loans
f. Seller/owner financing
g. Primary market
h. Secondary market
i. Down payment assistance programs
3. Government programs
a. FHA
b. VA
c. Other federal programs
4. Mortgages/deeds of trust
a. Mortgage clauses (assumption, due-on-sale,
alienation, acceleration, prepayment, release)
b. Lien theory versus title theory
c. Mortgage/deeds of trust and note as separate
documents
5. Financing/credit laws
a. Lending and disclosures
i. Truth in lending
ii. RESPA
iii. Integrated Disclosure Rule (TRID)*
iv. Equal Credit Opportunity
b. Fraud and lending practices
i. Mortgage fraud
ii. Predatory lending practices (risks to clients)
iii. Usury lending laws
iv. Appropriate cautions to clients seeking
financing
*The new TRID rule regarding the integrated loan
estimate and closing disclosure forms took effect on
October 3, 2015.
General principles of agency (11 items)
1. Nature of agency relationships
a. Types of agents and agencies (special, general,
designated, subagent, etc.)
b. Nonagents (transactional/facilitational)
c. Fiduciary responsibilities
2.
3.
4.
5.
Creation and disclosure of agency and agency
agreements (general, not state specific)
a. Agency and agency agreements
b. Disclosure when acting as principal or other
conflict of interest
Responsibilities of agent/principal
a. Duties to client/principal (buyer, seller, tenant
or landlord)
b. Traditional common law agency duties; effect of
dual agency on agent’s duties
Responsibilities of agent to customers and third
parties, including disclosure, honesty, integrity,
accounting for money
Termination of agency
a. Expiration
b. Completion/performance
c. Termination by force of law
d. Destruction of property/death of principal
e. Mutual agreement
Property condition and disclosures (9 items)
1. Property condition disclosure
a. Property owner’s role regarding property
condition
b. Licensee’s role regarding property condition
2. Warranties
a. Purpose of home or construction warranty
programs
b. Scope of home or construction warranty
programs
3. Need for inspection and obtaining/verifying
information
a. Explanation of property inspection process and
appropriate use
b. Agent responsibility to inquire about “red flag”
issues
c. Responding to non-client inquiries
4. Material facts related to property condition or
location
a. Land/soil conditions
b. Accuracy of representation of lot or
improvement size, encroachments or easements
affecting use
c. Pest infestation, toxic mold and other interior
environmental hazards
d. Structural issues such as roof, gutters,
downspouts, doors, windows, foundation
e. Condition of electrical and plumbing systems,
and of equipment or appliances that are fixtures
f. Location within natural hazard or specifically
regulated area, potentially uninsurable property
g. Known alterations or additions
5. Material facts related to public controls, statutes of
public utilities
a. Zoning and planning information
b. Boundaries of school/utility/taxation districts,
flight paths
c. Local taxes and special assessments, other liens
d. External environmental hazards
e. Stigmatized/psychologically impacted property,
Megan’s Law issues
Contracts (12 items)
1. General knowledge of contract law
a. Requirements for validity
b. When contract is considered
discharged
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2.
3.
4.
5.
6.
7.
c. Assignment and novation
d. Breach of contract and remedies for breach
e. Contract clauses
Listing agreements
a. General requirements for valid listing
b. Exclusive listings
c. Non-exclusive listings
Buyer/tenant representation agreements, including
key elements and provisions of buyer and/or tenant
agreements
Offers/purchase agreements
a. General requirements
b. When offer becomes binding (notification)
c. Contingencies
d. Time is of the essence
Counteroffers/multiple counteroffers
a. Counteroffer cancels original offer
b. Priority of multiple counteroffers
Leases
a. Types of leases, e.g., percentage, gross, net,
ground
b. Lease with obligation to purchase or lease with
an option to purchase
Other real estate contracts
a. Options
b. Right of first refusal
Transfer of title (5 items)
1. Title insurance
a. What is insured against
b. Title searches, title abstracts, chain of title
c. Cloud on title, suit to quiet title
2. Deeds
a. Purpose of deed, when title passes
b. Types of deeds (general warranty, special
warranty, quitclaim) and when used
c. Essential elements of deeds
d. Importance of recording
3. Escrow or closing; tax aspects of transferring title to
real property
a. Responsibilities of escrow agent
b. Prorated items
c. Settlement Statements
d. Estimating closing costs
e. Property and income taxes
4. Special processes
a. Foreclosure/short sale
b. Real estate owned (REO)
Practice of real estate (12 items)
1. Trust/escrow accounts (general, not state specific)
a. Purpose and definition of trust accounts,
including monies held in trust accounts
b. Responsibility for earnest money and other trust
monies, including commingling/conversion
2. Federal fair housing laws
a. Protected classes
i. Covered transactions
ii. Specific laws and their effects
b. Compliance
i. Types of violations and enforcement
ii. Exceptions
3. Advertising and technology
a. Incorrect “factual” statements versus “puffing”
i. Truth in advertising
ii. Fair housing issues in advertising
b. Fraud, technology issues
i.
4.
5.
6.
7.
Uninformed
misrepresentation
versus
deliberate misrepresentation (fraud)
ii. Technology issues in advertising and
marketing
Agent supervision and Broker-Associate relationship
a. Liability/responsibility for acts of associated
licensees
(employees
or
independent
contractors) and unlicensed employees
b. Responsibility to train and supervise associated
licensees (employees or independent contracts)
and unlicensed employees
Commissions and fees
a. Procuring cause/protection clauses
b. Referrals and other finder fees
General ethics
a. Practicing within area of competence
b. Avoiding unauthorized practice of law
Antitrust laws
a. Antitrust laws and purpose
b. Antitrust violations in real estate
Real estate calculations (4 items)
1. Basic math concepts
a. Area
b. Loan-to-value ratios
c. Discount points
d. Equity
e. Down payment/amount to be financed
2. Calculations for transactions, including mortgage
calculations
3. Property tax calculations
4. Prorations (utilities, rent, property taxes, insurance,
etc.)
a. Commission and commission splits
b. Seller’s proceeds of sale
c. Transfer tax/conveyance tax/revenue stamps
d. Amortization tables
e. Interest rates
f. Interest amounts
g. Monthly installment payments
h. Buyer qualification ratios
5. Calculations for valuation
a. Competitive/comparative market analyses
(CMA)
b. Net operating income
c. Depreciation
d. Capitalization rate
e. Gross rent and gross income multipliers (GRM,
GIM)
Specialty areas (3 items)
1. Subdivisions, including development-wide CC & Rs
2. Commercial, industrial and income property
a. Trade fixtures
b. Accessibility
c. Tax depreciation
d. 1031 exchanges
e. Trust fund accounts for income property
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STATE PORTION CONTENT OUTLINE
The state part of the Colorado broker examination covers
Colorado real estate statute, Commission rules and position
statements and contracts and forms used in the practice of
real estate.
Duties and Powers of the Real Estate Commission (2
items)
a. General Powers of the Real Estate Commission
b.
Investigations, Hearings, and Appeals; Rule E-21,
Criminal Violations; License Law Violations
Licensing Requirements (5 items)
a.
Types of Licenses/Corporations
b.
Acts Requiring a License
c.
d.
License
Maintenance:
Renewal,
Changes,
Expiration, Suspension, Inactive Status, and
Continuing Education
License Qualifications and Exemptions
e.
Errors and Omissions Insurance
Requirements Governing the Activities of Licensees (11
items)
a. Advertising; Trade Names
b.
Employer/Employee Relationships
ii.
Place of Business Requirements
iii. Office Policy Requirements
c.
d.
Commissions, Rebates, Referrals, & Fees;
Inducements from Settlement Service Providers
Disclosure of Conflict of Interest or Licensed Status
e.
Handling of Documents
f.
Listings (Chapter 15, Rule E-11)
g.
Practice of Law/Seller Financing
h.
Unlicensed Personal Assistants
i.
Rule E-13
a.
Property Management; Landlord Tenant Act
b.
c.
Water Rights & Disclosures; Well Change of
Ownership
Colorado Taxes
d.
Colorado Fair Housing Act
e.
Foreclosure Protection Act & Processes
Colorado Forms and Contracts (23 items)
c.
Listing Contracts and Buyer Representation
Agreements
Contracts to Buy and Sell Real Estate (incl. new
disclosures)
Rule F
d.
Deeds of Trust/Promissory Notes
e.
Disclosure Documents
f.
g.
Addenda to Contracts (Including
Property Addendum, Short Sales)
Counterproposal Form
h.
Closing Instructions
i.
Seller Financing
b.
Transaction Record Keeping
b.
Trust Accounts
i. Account Requirements
ii. Delivery of Funds to Broker or Title Company
iii. Trust Account Record Keeping
Closing and Settlement (10 items)
a.
Computation of Proration
b.
Responsibility for Accuracy of Closing Statements
c.
d.
Ensuring that Closing Statements Match Contract
Instructions
Responsibilities of Parties at Closing
e.
Closing Documents
Brokerage Relationships (11 items)
a.
Brokerage Relationship Disclosure
b.
Transaction Brokerage
c.
Single Agent
d.
Designated Brokers
NOTE:
EXAMINATION FEES ARE NOT REFUNDABLE OR
TRANSFERABLE. Your examination fee will be forfeited if you
do not test within 1 year of the date your examination fee is
received by PSI.
ON-LINE (WWW.PSIEXAMS.COM)
Additional Topics (7 items)
a.
a.
REGISTRATION & SCHEDULING
PROCEDURES
Brokerage Administration
i.
Record Keeping and Trust Accounts (5 items)
Foreclosure
For the fastest and most convenient examination scheduling
process, PSI recommends that you register for your
examinations using the Internet. You register online by
accessing PSI’s registration website at www.psiexams.com.
Internet registration is available 24 hours a day.

Log onto PSI’s website and create an account. You will
be asked to put in your email address and the spelling of
your name exactly as it is shown on your identification
that will be presented at the examination site.

You will be asked to select the examination. You will
then enter your personal and contact information. You
will then be ready to pay and schedule for the
examination. Enter your zip code and a list of the
examination sites closest to you will appear. Once you
select the desired examination site, available dates will
appear.
TELEPHONE REGISTRATION
PSI registrars are available at (800) 733-9267 to receive
payment and to schedule your appointment for the
examination. Please call Monday through Friday between 5:30
am and 8:00 pm, or Saturday-Sunday between 7:00 am and
3:30 pm, Mountain Time.
To register by phone, you will need a valid credit card (VISA,
MasterCard, American Express or Discover.)
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FAX REGISTRATION
EXAMINATION ACCOMMODATION
Complete the PSI registration form (found at the end of this
bulletin), including your credit card number and expiration
date. Fax the completed form to PSI (702) 932-2666. Fax
registrations are accepted 24 hours a day.
Please allow 4 business days to process your Registration.
After 4 business days, you may go online or call PSI to
schedule the examination.
All examination centers are equipped to provide access in
accordance with the Americans with Disabilities Act (ADA) of
1990, and every examination accommodation will be made in
meeting a candidate's needs. Applicants with disabilities or
those who would otherwise have difficulty taking the
examination must fill out the ExaminationRequest form at the
end of this Candidate Information Bulletin and fax to PSI
(702) 932-2666.
STANDARD MAIL REGISTRATION
EXAMINATION SITE CLOSING FOR AN EMERGENCY
Complete the PSI registration form (found at the end of this
bulletin), and appropriate examination fee to PSI. Payment
of fees may be made by credit card (VISA, MasterCard,
American Express or Discover), money order, company check
or cashier’s check. Make money order or check payable to
PSI and print your name on it to ensure that your fees are
properly assigned. CASH and PERSONAL CHECKS ARE NOT
ACCEPTED.
In the event that severe weather or another emergency
forces the closure of an examination site on a scheduled
examination date, your examination will be rescheduled. PSI
personnel will attempt to contact you in this situation.
However, you may check the status of your examination
schedule by calling (800) 733-9267. Every effort will be made
to reschedule your examination at a convenient time as soon
as possible. You will not be penalized. You will be
rescheduled at no additional charge.
Please allow 2 weeks to process your registration. After 2
weeks, you may go online or call PSI to schedule the
examination.
RESCHEDULING/CANCELING AN EXAMINATION APPOINTMENT
You may cancel and reschedule an examination appointment
without forfeiting your fee if your cancellation notice is
received 2 days before the scheduled examination date. For
example, for a Monday appointment, the cancellation notice
would need to be received on the previous Saturday. You may
call PSI at (800) 733-9267.
Note: A voice mail message is not an acceptable form of
cancellation. Please use the PSI Website or call PSI and
speak to a Customer Service Representative.
RETAKING A FAILED EXAMINATION
It is not possible to make a new examination appointment on
the same day you have taken an examination; this is due to
processing and reporting scores. A candidate who tests
unsuccessfully on a Wednesday can call the next day,
Thursday, and retest as soon as Friday, depending upon space
availability.
You may access a registration form at
www.psiexams.com. You may also call PSI at (800) 733-9267.
MISSED APPOINTMENT OR LATE CANCELLATION
If you miss your appointment, you will not be able to take the
examination as scheduled, further you will forfeit your
examination fee, if you:




Do not cancel your appointment 2 days before the
scheduled examination date;
Do not appear for your examination appointment;
Arrive after examination start time;
Do not present proper identification when you arrive for
the examination.
SOCIAL SECURITY NUMBER CONFIDENTIALITY
PSI will use your Social Security Number only as an
identification number in maintaining your records and
reporting your examination scores to the Division of Real
Estate. If you elect not to disclose your Social Security number
to PSI, please enclose a separate letter explaining this with
your examination registration form. However, pursuant to
Colorado law (24-34-107 C.R.S.), you MUST provide your social
security number to the state to complete the licensing process.
COMPUTER EXAMINATION CENTER
LOCATIONS
The following are the examination centers where you may take
the Colorado real estate licensing examination.
Denver (Centennial)
12150 E. Briarwood Ave, Suite 125
Centennial, CO 80112
Exit I-25 at Arapahoe Road. Head east on Arapahoe (away from the
mountains) to Peoria (5 traffic lights). Turn right on Peoria and left
on Briarwood.
Denver (Wheat Ridge)
4891 Independence St #220
Wheat Ridge, CO 80033
From I-70W, Merge onto Kipling St/CO-391N. Turn right onto W 49th
Ave. Take the 1st right onto Independence St.
Fort Collins
3000 S. College Ave, Suite 206
Fort Collins, CO 80525
From I-25N towards Fort Collins, take the Harmony Road exit. Turn
left onto CO-68/County Hwy-38/E Harmony Rd. Turn right onto S
College Ave/US-287 N. Go right on Swallow and enter the second
driveway on the left. The test center is in the second building.
Parking is in the back of the building.
Pueblo
803 West 4th Street, #803S
Pueblo, CO 81003
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From I-25 South, take City Center Drive exit (Exit 98B/CO96). Turn
left onto City Center Drive. Turn right onto N Santa Fe Ave. Turn
left onto W 4th Street, stay on 4th St. After you pass West St, the
location is on the right side of the street. Pueblo Central Plaza,
large parking lot, across from Wayside Cross Gospel Rescue Mission.
The office complex entry door is next to a large USPS mail box.
From I-25 North, take the 6th St exit, this exit turns into 6th St.
Turn left onto N Santa Fe Ave. Turn right onto W 4th Street,
stay on 4th St. After you pass West St the location is on the right
side of the street. Pueblo Central Plaza, large parking lot,
across from Wayside Cross Gospel Rescue Mission. The office
complex entry door is next to a large USPS mail box.
Colorado Springs
5050 Edison Avenue, #121
Colorado Springs, CO 80915
DRIVING DIRECTIONS COMING FROM DENVER, COLORADO (NORTH OF
COLORADO SPRINGS) Take I-25 S / US-87 S toward COLO SPGS.
Merge onto N ACADEMY BLVD via EXIT 150 toward CO-83. Stay
STRAIGHT to go onto N ACADEMY BLVD/CO-83 S. Turn LEFT to take
the US-24-BL E ramp toward LIMON. Merge onto E PLATTE AVE / US24 BL E. Turn LEFT onto WOOTEN RD. Turn RIGHT onto EDISON ST.
End at Colorado Spring.
DRIVING FROM WOODLAND PARK, COLORADO (WEST OF COLORADO
SPRINGS) Start out going EAST on US-24 E toward N PINE ST. Merge
onto I-25 S / US-24 E. Merge onto US-24 E via EXIT 139 toward LIMON
/ AIRPORT. Turn LEFT onto S ACADEMY BLVD / CO-83 N. Take the US24-BL E ramp toward LIMON. Merge onto E PLATTE AVE / US-24 BL E.
Turn LEFT onto WOOTEN RD. Turn RIGHT onto EDISON ST. End at
Colorado Springs.
DRIVING DIRECTIONS FROM PUEBLO, COLORADO (SOUTH OF
COLORADO SPRINGS) Start out going NORTH on I-25 N / US-87 N /
US-85 N. Take the CO-83 / ACADEMY BLVD exit- EXIT 135. Merge onto
S ACADEMY BLVD / CO-83 N toward AIRPORT. Take the US-24-BL E
ramp toward LIMON. Merge onto E PLATTE AVE / US-24 BL E. Turn
LEFT onto WOOTEN RD. Turn RIGHT onto EDISON ST. End at Colorado
Springs.
DRIVING DIRECTIONS FROM LIMON, COLORADO (EAST OF COLORADO
SPRINGS) Proceed on US-24 W. Stay STRAIGHT to go onto E PLATTE
AVE / US-24 BL W. Turn RIGHT onto BABCOCK RD. Turn LEFT onto
EDISON ST. End at Colorado Springs.
Grand Junction
743 Horizon Court, #203
Grand Junction, CO 81506
From I-70 West turn right onto Horizon Drive Exit, #31. Go for 0.3
miles turn right onto Horizon Ct.
From I-70 East turn left onto Horizon Drive Exit, #31 and turn right
onto Horizon Ct.
From US-50 turn right on 32 RD. go for approximately 5
miles. Turn right onto I-70 Business Loop. Continue on I-70
Business Loop until it merges with US I-70. Take US I-70 West
towards Greenriver. Take the Horizon Drive Exit #31. Turn
right onto Horizon Dr and right onto Horizon Ct.
The site is the last Building on your right. The door on the east side
of the building is the entrance to use.
Durango
799 East 3rd Street, Suite 3
Durango, CO 81301
From Hwy 550: Turn East on College Drive. Go straight then turn
right on East 8th Avenue. Follow until East 3rd Street. PSI Testing
is on the right in Suite 3.
Additionally, PSI has examination centers in many other regions
across the United States. You may take this examination at any of
these locations by submitting the out-of-state request form found
in the back of this bulletin.
REPORTING TO THE
EXAMINATION CENTER
On the day of the examination, you should arrive at least 30
minutes before your appointment. This extra time is for signin and identification and familiarizing you with the
examination process. If you arrive late, you may not be
admitted to the examination center and you will forfeit your
registration fee.
REQUIRED IDENTIFICATION
You must provide 2 forms of identification. One must be a
VALID form of government-issued identification (Driver's
License, State ID, Passport) which bears your signature and has
your photograph. The second ID must have your signature and
preprinted legal name. All identification provided must match
the name on the registration form and Examination Eligibility
Certificate.
All candidates will also be required to complete an affidavit
before being allowed to sit for the exam. If appropriate, you
must bring a copy of your eligibility certificate or REC-33
(electronic versions are accepted) to support the choice
selected in the affidavit. Failure to bring the proper
documentation invalidates your registration. You will not be
able to take the examination as scheduled, and you will forfeit
your examination fee.
Note that broker candidates licensed in another state are
NOT required to present a certificate of eligibility. Those
candidates must complete the affidavit by selecting “I am
currently licensed in Colorado or another state (no certificate
required).”
SECURITY PROCEDURES
The following security procedures will apply during the
examination:
 PSI exam computers display an on screen calculator similar
to that found on most computers. There are no questions
on the examination that require functions beyond those on
the on-screen computer (add, subtract, multiply and
divide). The Colorado Division of Real Estate does not
permit personal calculators in the examination center
 All personal belongings of candidates, with the exception
of close-fitting jackets or sweatshirts, should be placed
in the secure storage provided at each site prior to
entering the examination room. Personal belongings
include, but are not limited to, the following items:
Electronic devices of any type, including cellular /
mobile phones, recording devices, electronic
watches, cameras, pagers, laptop computers, tablet
computers (e.g., iPads), music players (e.g., iPods),
smart watches, radios, or electronic games.
Bulky or loose clothing or coats that could be used
to conceal recording devices or notes, including
coats, shawls, hooded clothing, heavy jackets, or
overcoats.
Hats or headgear not worn for religious reasons or
as religious apparel, including hats, baseball caps, or
visors.
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Other personal items, including purses, notebooks,
reference
or
reading
material,
briefcases,
backpacks, wallets, pens, pencils, other writing
devices, food, drinks, and good luck items.
Person(s) accompanying an examination candidate may
not wait in the examination center, inside the building or
on the building's property. This applies to guests of any
nature, including drivers, children, friends, family,
colleagues or instructors.
No smoking, eating, or drinking is allowed in the
examination center.
During the check in process, all candidates will be asked
if they possess any prohibited items. Candidates may also
be asked to empty their pockets and turn them out for
the proctor to ensure they are empty. The proctor may
also ask candidates to lift up the ends of their sleeves
and the bottoms of their pant legs to ensure that notes
or recording devices are not being hidden there.
Proctors will also carefully inspect eyeglass frames, tie
tacks, or any other apparel that could be used to harbor
a recording device. Proctors will ask to inspect any such
items in candidates’ pockets.
If prohibited items are found during check-in, candidates
shall put them in the provided secure storage or return
these items to their vehicle. PSI will not be responsible
for the security of any personal belongings or prohibited
items.
Any candidate possessing prohibited items in the
examination room shall immediately have his or her test
results invalidated, and PSI shall notify the examination
sponsor of the occurrence.
Any candidate seen giving or receiving assistance on an
examination, found with unauthorized materials, or who
violates any security regulations will be asked to
surrender all examination materials and to leave the
examination center. All such instances will be reported
to the examination sponsor.
Copying or communicating examination content is
violation of a candidate’s contract with PSI, and federal
and state law. Either may result in the disqualification of
examination results and may lead to legal action.
Once candidates have been seated and the examination
begins, they may leave the examination room only to use
the restroom, and only after obtaining permission from
the proctor. Candidate will not receive extra time to
complete the examination
-
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





TAKING THE EXAMINATION
The examination will be administered via computer. You will
be using a mouse and computer keyboard.
are included as part of the tutorial so that you may practice
using the keys, answering questions, and reviewing your
answers.
One question appears on the screen at a time.
During the
examination, minutes remaining will be displayed at the top of
the screen and updated as you record your answers.
IMPORTANT: After you have entered your responses, you will
later be able to return to any question(s) and change your
response, provided the examination time has not run out or
you have ended your examination.
EXPERIMENTAL QUESTIONS
In addition to the 80 examination items on the national portion
of the examination and the 74 examination items on the state
portion, a small number (5 to 10) of "experimental" questions
may be administered to candidates during the examination.
These questions are randomly distributed, will not be scored
and the time taken to answer them will not count against
examination time. The administration of such unscored,
experimental questions is an essential step in developing future
licensing examinations.
EXAMINATION REVIEW
PSI, in cooperation with the Division of Real Estate, will be
consistently evaluating the examination being administered to
ensure that the examination accurately measure competency
in the required knowledge areas. Your comments regarding
the questions and the examination are welcomed. This is the
only review of examination materials available to applicants.
IMPORTANT: You may review items and make comments
during the time allotted for your exam. No review is
available once the exam has been completed (scored) or
time has expired.
Comments submitted after the
examination will not be reviewed.
IDENTIFICATION SCREEN
You will be directed to a semiprivate testing station to take
the examination. When you are seated at the testing station,
you will be prompted to confirm your name, identification
number, and the examination for which you are registered.
TUTORIAL
Before you start your examination, an introductory tutorial to
the computer and keyboard is provided on screen. The time
you spend on this tutorial (up to 15 minutes) does NOT count as
part of your examination time. Sample questions
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9
agency of another state. Colorado schools will
provide the “REC-33” form for this purpose. Do not
submit the “Examination Eligibility” certificate with
your broker application.
SCORE REPORTING
In order to pass the examination, you must achieve the
minimum score shown on each part of the examination
Number Correct
MISCELLANEOUS INFORMATION

On screen - Your score will appear immediately on the
computer screen. This will happen automatically at the
end of the time allowed for the examination; if you are
using review features, you will be able to obtain your
score immediately when you indicate that you have
finished and would like to see your results.
The printed Real Estate Manual is available at:
 State Forms Center
4200 Garfield Avenue
Denver, CO 80216
(303) 370-2165
 Some of the approved schools
 Most Colorado public libraries
 Some REALTOR© association offices
 The Colorado Division of Real Estate
Walk-in sales only; make checks payable to: “CREC”.
 Please use the Real Estate Manual Mail Order Form
located at http://dora.colorado.gov/dre/

If you pass, you will immediately receive a successful
notification and performance summary on the screen.
If you do not pass, you will immediately receive an
unsuccessful notification on the screen along with a
diagnostic report indicating your strengths and
weaknesses by topic area, by examination type.
Broker applications and E&O forms are available at:
 The PSI assessment center (Candidates may apply
electronically or pick up an application form the
same day they pass the examination.)
 The Colorado Division of Real Estate
 The Web site at http://dora.colorado.gov/dre/

All other applications are available at:
 The Colorado Division of Real Estate
 The Web site at http://dora.colorado.gov/dre/
Broker
National Portion
State Portion
60
53
Your score will be given to you immediately following
completion of the examination. Examination results will be
reported to you and the Colorado Division of Real Estate and, if
applicable, your pre-license education provider.
The following summary describes the score reporting process:
DUPLICATE SCORE REPORTS
You may request a duplicate score report after your
examination by emailing [email protected] or by
calling 800-733-9267.
LICENSE APPLICATION INSTRUCTIONS
PROCEDURE FOR LICENSURE (AFTER PASSING THE EXAM)
Submit the completed paper application form, education,
experience, and the appropriate application fee to the
Colorado Division of Real Estate at the address on the
application and on page 2 of this bulletin. You must apply
within one year of passing the entire examination. If your
application is not received within one year, you must retake
both portions of the exam.
SUPPORTING DOCUMENTATION
Proof of Education
The Commission will accept either:

A transcript from an accredited college or university
indicating a degree with a major course of study in
real estate, or

Certification (on form #REC-33) of successful
completion of the specific courses and hours of
study approved by the Commission (see Educational
Requirements on page 3) from any accredited
college or university, private occupational school or
a school approved and licensed by an official state
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10
COLORADO REAL ESTATE EDUCATION PROVIDERS
More detailed school information, including pass rates and contact data, is available at the Division of Real Estate
Website: http://dora.colorado.gov/dre/
School
Code
0129
0143
0138
0501
0132
0301
0117
0131
0122
0708
0101
2178
0115
0302
0128
0145
0110
0136
0116
2179
0511
0146
0142
0503
0304
2180
0702
0137
Name of School
ACRE School - Golden
Academy for Real Estate Professionals
Achievement Real Estate Academy
Adams State College - Alamosa
Advantage School of Real Estate - Cedaredge
AIMS Community College - Greeley
All Service Real Estate Academy - Denver
Alliance Real Estate School – Ft. Collins
Alliance Real Estate Academy
American Dream Real Estate School
American Real Estate College, LLC. - Westminster
American School of Real Estate Express
A-Plus Real Estate School - Denver
Arapahoe Community College - Littleton
Armbrust Real Estate Institute - Greenwood Village
Armbrust Real Estate Institute - Westminster
Century 21 Academy R.E. School – Colo. Springs
Coldwell Banker R. E. Academy - Colo. Springs
Coldwell Banker R. E. Academy, Denver
Colorado License Express
Colorado Mountain College - Aspen
Colorado Mountain College - Edwards
Colorado Real Estate School
Colorado State University – Ft. Collins
Community College of Aurora - Aurora
CU – Boulder
Delta-Montrose Area Vo -Tech - Delta
Emily Griffith Opportunity School
School
Code
0127
0144
0125
0105
0121
1040
0504
0306
0106
0512
0516
0307
0141
0308
0109
0517
0108
2140
0305
0514
0515
0147
0706
0705
2177
Name of School
Empire Real Estate School – Ft. Collins
FasTrack Real Estate School
Kaplan Professional School - Colorado Springs
Kaplan Professional School - Denver
Macintosh Real Estate School, Inc. - Arvada
McKissock Real Estate & Appraisal School
Metropolitan State College of Denver - Denver
Morgan Community College – Ft. Morgan
Northern Colorado College of Real Estate - Loveland
Otero Junior College – La Junta
Peak Real Estate College - Aurora
Pikes Peak Community College – Colorado Springs
ProSchools, Inc.
Pueblo Community College - Pueblo
Real Estate College of Colorado - Durango
Real Estate College of Colorado - Pueblo West
Real Estate Training Center - Lakewood
Real Estate Training Center - Grand Junction
Red Rocks Community College - Lakewood
Rocky Mountain Real Estate in Loveland
Rocky Mountain Real Estate in Centennial
Trinidad State Junior College
Unibell Realty - Lakewood
Van Education Center - Boulder
Western Colorado Community College
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11
COLORADO REAL ESTATE LICENSING EXAMINATION
REGISTRATION FORM
1. Legal Name:
Last Name
2. Social Security:
First Name
-
-
M.I.
(FOR IDENTIFICATION PURPOSES ONLY)
3. Mailing Address:
Number, Street
Apt/Ste
-
City
4. Telephone:
Home
-
5. Birth Date:
M M
6. Email:
State
Office
D D
Zip Code
-
Birth Place
Y Y
City
State
____________________________________________@________________________________
7. Examination: (Check one)
First Time Broker – National and State $44.95
First Time Continuing Education – State $44.95
Retake Broker – National and State $42.50
Retake Continuing Education – State $42.50
Retake Broker – National Only $42.50
First Time Reciprocal Licensure – State $44.95
Retake Broker – State Only $42.50
Retake Reciprocal Licensure – State $42.50
8. School/Provider Name: ____________________________________
School/Provider Code: ___________ (Mandatory. Please see previous page for codes).
9. Total Fees Included: $____________. Payment of fees may be made by credit card, company check, personal check, money
order or cashier’s check, made payable to PSI.
If paying by credit card, check one:  VISA
 MasterCard
 American Express
 Discover
Card No: ______________________________________________________ Exp. Date: ________________________________
Card Verification No: __________________
The card verification number may be located on the back of the card (the last
three digits on the signature strip) or on the front of the card (the four digits
to the right and above the card account number).
Billing Street Address: _________________________________________________________ Billing Zip Code: __________________
Cardholder Name (Print):_______________________________________ Signature:__________________________________
10. I am enclosing a Special Arrangement Request letter and required documentation.

Yes
No
From time to time real estate brokers or others may request lists of persons who have taken the Colorado broker exam. Check this box if you do not want PSI to share
your information with third parties. Please note that PSI will NOT release social security numbers to 3rd parties.
11. Affidavit: I certify that the information provided on this registration form (and/or telephonically to PSI) is correct. I understand that any
falsification of information may result in denial of licensure. I have read and understand the Candidate Information Bulletin.
Signature:__________________________________________________________________________ Date:_____________________
Complete and forward this registration form with the applicable examination fee to:
PSI licensure:certification * ATTN: Examination Registration CO RE * 3210 E Tropicana Ave * Las Vegas, NV* 89121
Fax (702) 932-2666 * (800) 733-9267 * TTY (800) 735-2929 * www.psiexams.com
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12
EXAMINATION ACCOMMMODATION REQUEST FORM
OR OUT-OF-STATE TESTING REQUEST
All examination centers are equipped to provide access in accordance with the Americans with Disabilities Act (ADA) of 1990.
Applicants with disabilities or those who would otherwise have difficulty taking the examination may request special examination
arrangements.
Candidates who wish to request special arrangements because of a disability should fax this form and supporting documentation
to PSI at (702) 932-2666.
Requirements for accommodation requests
You are required to submit documentation from the medical authority or learning institution that rendered a diagnosis.
Verification must be submitted to PSI on the letterhead stationery of the authority or specialist and include the following:

Description of the disability and limitations related to testing

Recommended accommodation/modification

Name, title and telephone number of the medical authority or specialist

Original signature of the medical authority or specialist
Date: _________________________________________________ Social Security or ID#: _____________________________
Legal Name: _____________________________________________________________________________________________
Last Name
First Name
Address: _______________________________________________________________________________________
Street
Telephone: (_________) __________ - _______________
Home
City, State, Zip Code
(_________) __________ - _______________
Work
Email Address: ________________________________________________________________________
Check any accommodations you require (requests must concur with documentation submitted):
 Reader (as accommodation for visual impairment
or learning disability)
 Extended time
(Additional time requested:______________)
 Large-print written examination
 Other____________________________________
 *Out-of-State Testing Request (this request does not
require additional documentation)
____________________________________
Site requested:________________________________
*You may email your out-of-state request to [email protected].


Complete and fax this form, along with supporting documentation, to (702) 932-2666 or email to
[email protected].
After four days, PSI Exam Accommodations will email you confirmation upon approval with instructions for the
next step.
DO NOT SCHEDULE YOUR EXAMINATION UNTIL THIS DOCUMENTATION HAS BEEN
RECEIVED AND PROCESSED BY PSI ACCOMMODATIONS.
PSI licensure:certification
3210 E Tropicana
Las Vegas, NV 89121